Bed Bath makes interim CEO its permanent leader

Bed Bath & Beyond is revamping itself. (File photo)

Bed Bath & Beyond Inc. has named interim CEO Sue Gove to the permanent roles of CEO and president, it announced Tuesday.

The Union-based home goods retailer said in a news release that Gove was unanimously approved by the board of directors; she will also remain a director.

“We are pleased to announce the appointment of Sue as chief executive officer,” Harriet Edelman, independent chair of the board, said in a prepared statement. “Sue is the best person to serve at the helm of Bed Bath & Beyond and continue leading the company. During her tenure as interim CEO, Sue took consequential actions to increase liquidity and establish the groundwork to improve customer loyalty, traffic and market share. Her intense focus on cash, and expertise in managing working capital and liquidity are matched by a great operating mind and further complemented by a new leadership team that brings deep merchant, omni and digital expertise in modern retailing.

“A strong team-builder and hands-on leader, Sue has earned the trust of associates across headquarters, stores and operations, and is working alongside our two brand presidents to support our important supplier community. On behalf of the board of directors and Bed Bath & Beyond’s leadership and associate teams, we congratulate Sue and are confident that her unique mix of talent, experience and drive is best-suited to deliver improved growth, profitability and shareholder returns.”

Gove has been interim CEO since June. Under her leadership, the company intends to continue to execute its strategic plan announced Aug. 31, with a focus on strengthening finances, increasing customer engagement and recapturing market share.

“I look forward to continuing our important work alongside our highly engaged management team and board as CEO,” Gove said in a statement. “At Bed Bath & Beyond, we have never been more strategically and culturally focused, and I remain dedicated to executing on our back-to-basics philosophy, accelerating our performance and focusing on financial returns. …

“I am energized by the initiatives underway to provide our customers with an exceptional shopping experience, easily accessible products and compelling values across our Bed Bath & Beyond, buybuy Baby and Harmon brands. We have a significant opportunity ahead, and we intend to regain our dominance as a preferred shopping destination.”